US shale unit BHP Billiton plans to write off $ 2 bln. impairment loss on deposits Hawkvill
July 16, 2015
US shale unit BHP Billiton plans to write off $ 2 billion (after taxes, to the amount of taxes will be $ 2.8 billion) loss on impairment deposit Hawkville, the company said. The reason for write-off amount was inflated costs Hawkville gas fields in Texas. After the cancellation of the US oil and gas business unit will have assets of approximately $ 24 billion. BHP Billiton also plans in 2016 to invest $ 1.5 billion in exploration and development of oil and gas fields onshore in the US.
"While the depreciation of the asset Hawkville is disappointing, it does not reflect the quality of our oil and gas business in the United States. Black Hawk field continues to exceed expectations, while Permian offers significant growth potential in several areas, and Haynesville, which occupies a leading position on the dry gas in the industry, provides a good scenario against the backdrop of improving conditions in the market ", - said the head of department BHP Billiton Tim Cutt (Tim Cutt).
If the price of WTI oil will return to $ 60 per barrel, the oil and gas business in the US BHP Billiton will fix a positive cash flow in the 2016 fiscal year, the company reported. BHP Billiton Ltd. - The world leader mining industry, founded in 2001. The Company is engaged in mining of bauxite, coal, copper, manganese, iron ore, uranium, nickel, diamonds, silver and titanium minerals. BHP Billiton also produces oil and natural gas.
According to the materials PRIME
July 16, 2015